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    Home > Chemicals Industry > New Chemical Materials > November 11 Copper Market Brief Review

    November 11 Copper Market Brief Review

    • Last Update: 2022-12-20
    • Source: Internet
    • Author: User
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    Today's Shanghai copper shock rebound closed lower, the afternoon rebound weakened, as of the end of the day closed Shanghai copper main 2012 contract closed at 51960, down 180, or 0.
    35%.

    The market is inclined to Biden's larger economic policy expectations after taking office, and Shanghai copper bottomed out overnight due to optimism, and consolidated around 51,800 during the day
    .

    Shanghai copper

    At the macro level, the news was relatively calm last night, and the progress of vaccines affected the nerves
    of financial markets.
    Saudi Arabia and Iraq confirmed that they will fully comply with the OPEC+ oil production reduction agreement, and international oil prices continued to rise
    .
    The US dollar index and U.
    S.
    stocks fluctuated in a narrow range, and the market gradually returned to normal
    from the surge and retreat.

    At present, the supply and demand of Shanghai copper fundamentals maintain a balance, the global economy is gradually recovering, and the downside of metals is limited, but the overseas epidemic has repeatedly suppressed copper prices, and it is expected that Shanghai copper will still be adjusted at a high level in the short term, and the night shock will be sorted out, with reference to the main range of 5.
    15-52,000
    .
    Operationally
    , it is recommended to just need upstream and downstream.

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